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Oman's U.S. ambassador stresses trade deals at Wilmington meeting

Ambassador to Oman for the United States Hunaina Sultan Al-Mughairy speaks in front of local business professionals Thursday at Cape Fear Country Club relating her country to Wilmington as an unexplored secret of resources.

Published: Thursday, January 10, 2013 at 5:29 p.m.

Last Modified: Thursday, January 10, 2013 at 5:29 p.m.

U.S. relations with Oman stretch back 200 years, and in 1833 it signed the first bilateral accord between the United States and an Arab Gulf state.

Now, the country strategically located at the mouth of the Persian Gulf is seeking once again to expand its trade with the United States – this time with Wilmington and North Carolina.

The country's U.S. ambassador, Hunaina Al-Mughairy, spoke to a gathering Thursday at the Cape Fear Country Club sponsored by the Cape Fear chapter of the N.C. World Trade Association.

The ambassador said there were no deals to seal on this trip; rather it was a visit to seek partners and joint ventures.

"We've going to look at what you are producing, what we can import, and look for joint ventures," Al-Mughairy said after her address. She said she is particularly interested in the pharmaceutical and film industries here.

Oman, with nearly 1,000 miles of coastline, also is diversifying its economy with a new focus on tourism, Al-Mughairy said. The country hasn't marketed to the United States so far, but now has the hotels and other infrastructure in place to attract Americans.

Al-Mughairy explained what her country has to offer to business, including exemption from duties on the import of plant and equipment and no income tax.

The country of 3 million people is flanked by Yemen on the south and the Strait of Hormuz on the north, through which 60 percent of the world's oil flows, she said.

Al-Mughairy emphasized that Oman has good relations with all its neighbors, a "stable and far-sighted government," and has made itself as "investor-friendly as possible."

U.S. giants such as Honeywell and Bechtel, an engineering firm, are active in Oman.

The country also has invested billions in building up its main seaport, Al-Mughairy said, adding that foreign investment in Oman had risen to $14.26 billion in 2010 from $5.7 billion in 2006. Of that, U.S. investment had risen from $744 million to $2.3 billion and is the largest source of investment after the United Kingdom.

<p>U.S. relations with Oman stretch back 200 years, and in 1833 it signed the first bilateral accord between the United States and an Arab Gulf state.</p><p>Now, the country strategically located at the mouth of the Persian Gulf is seeking once again to expand its trade with the United States – this time with Wilmington and North Carolina.</p><p>The country's U.S. ambassador, Hunaina Al-Mughairy, spoke to a gathering Thursday at the Cape Fear Country Club sponsored by the Cape Fear chapter of the N.C. World Trade Association.</p><p>The ambassador said there were no deals to seal on this trip; rather it was a visit to seek partners and joint ventures.</p><p>"We've going to look at what you are producing, what we can import, and look for joint ventures," Al-Mughairy said after her address. She said she is particularly interested in the pharmaceutical and film industries here.</p><p>Oman, with nearly 1,000 miles of coastline, also is diversifying its economy with a new focus on tourism, Al-Mughairy said. The country hasn't marketed to the United States so far, but now has the hotels and other infrastructure in place to attract Americans.</p><p>Al-Mughairy explained what her country has to offer to business, including exemption from duties on the import of plant and equipment and no income tax.</p><p>The country of 3 million people is flanked by Yemen on the south and the Strait of Hormuz on the north, through which 60 percent of the world's oil flows, she said.</p><p>Al-Mughairy emphasized that Oman has good relations with all its neighbors, a "stable and far-sighted government," and has made itself as "investor-friendly as possible."</p><p>U.S. giants such as Honeywell and Bechtel, an engineering firm, are active in Oman.</p><p>The country also has invested billions in building up its main seaport, Al-Mughairy said, adding that foreign investment in Oman had risen to $14.26 billion in 2010 from $5.7 billion in 2006. Of that, U.S. investment had risen from $744 million to $2.3 billion and is the largest source of investment after the United Kingdom.</p><p><i></p><p><a href="http://www.starnewsonline.com/section/topic99"><b>Wayne Faulkner</b></a>: 343-2329</p><p>On <a href="http://www.starnewsonline.com/section/news41"><b>Twitter</b></a>: @bizniznews</i></p>